19 CBP

What is the relationship between business objectives and strategic objectives?

• They are interchangeable terms with the same meaning

• They are related and it is important to explore the relationship between them

• They are separate documents that do not impact each other

• They are only relevant to the annual budget

What is the significance of the business delivery model in relation to business objectives?

• It is only relevant for membership organizations

• It defines how the organization operates and what services it delivers

• It is not necessary for risk management

• It has no impact on business objectives

What are the risks associated with business objectives?

• Risks related to the annual budget

• Risks related to the number of employees

• Risks related to the location of the organization

• Risks related to the efficiency of the business model

What is the main topic of the chapter regarding business development?

• The relationship between strategy and tactics

• The development of the business model to fulfill strategic objectives

• The significance of operational reports

• The importance of compliance

What is the purpose of a risk assessment in the business development model?

• To determine the annual budget

• To evaluate the success of compliance core processes

• To identify necessary controls for projects

• To assess the efficiency of operations

What is the main objective of risk management input into operations?

• To achieve operational efficiency and protect from unplanned disruption

• To ignore compliance requirements

• To increase costs and reduce efficiency

• To introduce unnecessary disruptions

What is the role of internal audit in the delivery of efficient operations?

• To focus on strategic objectives only

• To evaluate control activities and provide risk assurance

• To increase operational inefficiencies

• To avoid compliance with mandatory requirements

What is the importance of compliance core processes in an organization?

• To avoid risk management activities

• To fulfill mandatory requirements and achieve compliance

• To increase costs and inefficiencies

• To ignore stakeholder expectations

What is the main risk management input into reporting of performance?

• Risk assessment of the business model

• Risk assessment of strategic options

• Risk assessment of compliance core processes

• Risk assessment of the reporting lines and data-handling procedures

What is the significance of operational reports in an organization?

• To ensure accurate reporting and disclosure to stakeholders

• To avoid risk management activities

• To provide information for compliance purposes only

• To hide performance data from stakeholders